The UK’s largest radio group, Global, has hired Darren Singer, the financial chief at the parent of the Guardian and Observer newspapers, as its new chief financial officer.
Singer was part of the team that engineered the £70m sale of GMG Radio, parent of brands including Smooth and Real Radio, to increase Global’s position as the UK’s largest commercial radio group.
“It’s an incredible time to join Global,” said Singer. “Over the past few years, I’ve watched the company as it has stimulated the commercial radio sector’s return to growth and, more recently, as it has grown its interests in the music and entertainment world in the UK and the US”.
Singer, who has been on the board of Guardian Media Group since 2011, has previously held top financial roles at Sir Martin Sorrell’s WPP, and at Sky.
“Darren brings to Global exceptional leadership, knowledge and experience, having worked at some of the world’s most prestigious media and entertainment companies,” said Stephen Miron, group chief executive at Capital and LBC owner Global. “We’re delighted to welcome Darren to Global where he will be a tremendous asset as we continue to fulfil our ambitious plans for the business”.
Singer has worked on a number of deals while at GMG including the sale of the group’s 50.1% stake in Trader Media Group, owner of AutoTrader, in a deal which resulted in a profit of about £600m.
Global Radio has also made its first move into the global festival business taking a significant strategic stake in Broadwick Live, which runs events including Snowbombing and Festival No.6.
It also runs events for brands including Barcadi Triangle.
The deal, for an undisclosed amount, is the first UK acquisition by live event arm Global Entertainment.
“When [Global Radio owner] Ashley Tabor and I decided to build a live entertainment company we always planned to expand into the festival and event space as part of our strategy,” said Randy Phillips, chief executive of Global Entertainment. “
Earlier this month, Global Radio acquired Juice FM from TalkSport owner UTV Media for £10m.
